Malaysian property developer Exsim Development made history in November, becoming the first company in Malaysia to monetize unbilled sales from multiple development projects to finance a RM290 million (US$69.6 million) Sukuk, the first tranche to be issued under its RM2 billion (US$480.5

The second Sukuk issuance from environmentally-friendly property developer EcoWorld demonstrates the growing appeal of the Islamic debt capital market for companies seeking to raise finance for overseas expansion on a socially responsibly basis – without compromising on price or profit. In October,

The UAE’s National Cooling Company (Tabreed) in October raised US$500 million through a seven-year Sukuk issuance listed on the London Stock Exchange and priced at an aggressive 5.5%. Rated investment grade by both Moody’s and Fitch, the new bond tapped a wide

In August 2018 TRIplc Medical (TMSB), a wholly-owned subsidiary of Malaysian investment holding company Triangle Research International (TRIplc), issued a RM40 million (US$9.77 million) 19-year junior Sukuk to fund the ongoing costs associated with the construction of a new hospital for Universiti

In July 2018, Singapore-based property conglomerate Royal Group closed the world’s largest-ever Islamic hotel financing deal, in a move that showcased not only the strength of the Islamic debt capital market and the ever-eager appetite of its investors, but the increasing popularity

In a deft demonstration of the strength and depth of Islamic capital financing, Malaysian utility firm Pengurusan Aset Air (PAAB) in June issued a further RM2.1 billion (US$522.9 million)-worth of Shariah compliant papers as a means of refinancing existing banking facilities –

In May 2018, Malaysian corporate Yinson Holdings made history with the first-ever perpetual Sukuk facility based on the concept of joint enterprise (Mudarabah) in a successful and fully subscribed issuance that shone a spotlight on the strength of the country’s domestic Sukuk

A Malaysian property developer has broken new ground in the Sukuk space through the use of a pioneering new technique that monetizes real estate progress billings to back the issuance – a global first, and the first time the structure has ever

On the 16th March 2018 Malaysian engineering, property and infrastructure company Gamuda, one of the country’s largest infrastructure providers, tapped the Islamic debt capital market during a time of tough competition to achieve an impressive price and a strong investor reception, demonstrating

Oman’s Golden Group, a privately-owned conglomerate with interests across multiple industries, has made history with the issuance of the first tranche of the country’s largest ever corporate Sukuk program. The OMR200 million (US$520.4 million) program was approved by the regulator in November

UMW Holdings, one of Malaysia’s leading industrial enterprises, in March announced plans for a RM2 billion (US$511.6 million) perpetual Sukuk program, designed to improve its borrowing structure by enabling it to access longer-term funding from the capital market. Although not yet executed,

In January 2018 oil marketing firm Hascol Petroleum became the first corporate in Pakistan to issue Islamic commercial paper (ICP), with a PKR1.5 billion (US$13.5 million) short-term facility that blazed a new trail for private sector capital raising in the country. ICPs

In December 2016 the World Gold Council and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) launched a new Shariah standard on gold trading which over the past year has unleashed a flood of new products onto the market. Most

Oman’s state-owned electricity company successfully priced its debut Sukuk on the 1st November, coming in at the tight end of the price guidance and seeing orders top US$5 billion. The impressive pricing demonstrated just how much appetite there is for blue chip

In October the medical arm of Malaysian conglomerate TRIplc (TMSB) tapped the debt capital market with a straightforward Sukuk issuance that leveraged the support of the country’s bond guarantor Danajamin to obtain the best possible deal, in a transaction that demonstrates the

Public housing developer Perumahan Rakyat 1Malaysia (PR1MA) in October utilized a comprehensive multi-tenor Islamic debt program to fund the development of a new roll-out of affordable housing projects. The transaction represents a textbook example of Sukuk as a tool for state-owned entities

On the 25th October the Saudi Arabia-based Arab Petroleum Investments Corporation (APICORP), a multilateral development bank established to boost the development of the Gulf region’s oil and gas industries, floated a US$500 million Sukuk issuance using a highly flexible structure in order

One of Malaysia’s biggest property developers, SP Setia, in September issued a simple and straightforward Sukuk transaction to raise funds for the purchase of land on the island of Penang, in a deal which demonstrates the simplicity and ease of raising Islamic

Solar energy company Tadau Energy made history earlier this year with the issuance in July of the world’s first-ever ‘green’ Sukuk, under Malaysia’s SRI Sukuk framework launched in 2014 to encourage socially responsible investment through the application of tax incentives. The Sustainable

The first visit to the capital market for the TNB parent company in almost two decades, the dual-tranche transaction was issued in July and comprised a 15-year RM500 million (US$116 million) tranche and a 20-year RM1.5 billion (US$349.5 million) tranche, achieving prices